Hello everyone. US Stocks market fell on Monday amid weak Chinese data and geopolitical concern from Afghanistan.
First, Let's look at the Chinese data. Fixed Asset Investment, Industrial Production and retail sales all missed projection. The key indicator is retail sales, and the year-over-year growth is only 8.5% with expectation of 10.9%. Recently, there are some corona virus breakout in approximately 20 domestic cities. The slowdown is a kind of reflection of impact of delta variant as Government adopt zero-tolerance policy toward it. Country-wide business travel and student summer holiday travel are all affected. Domestic travel is not encouraged now. Even, Some restaurants around my apartment have been closed permanently. So, I can feel it with many real cases around.
However, today's pullback created a nice buying opportunity. You can load up stuff that you missed or fear to chase when the momentum was strong.
Secondly, let's look at the chart of S&P. The potential reverse zone is just a bit marked in grey color. My previous bullish setup worked very well.
Thirdly, I marked two defense zones for Nasdaq. The first defense is a bit weak compared to the second one with the support of mid-term Moving average line.
The taper has not started yet. So, I don't worried too much about the stock market.
What do you think? Give a like if you're with me.
First, Let's look at the Chinese data. Fixed Asset Investment, Industrial Production and retail sales all missed projection. The key indicator is retail sales, and the year-over-year growth is only 8.5% with expectation of 10.9%. Recently, there are some corona virus breakout in approximately 20 domestic cities. The slowdown is a kind of reflection of impact of delta variant as Government adopt zero-tolerance policy toward it. Country-wide business travel and student summer holiday travel are all affected. Domestic travel is not encouraged now. Even, Some restaurants around my apartment have been closed permanently. So, I can feel it with many real cases around.
However, today's pullback created a nice buying opportunity. You can load up stuff that you missed or fear to chase when the momentum was strong.
Secondly, let's look at the chart of S&P. The potential reverse zone is just a bit marked in grey color. My previous bullish setup worked very well.
Thirdly, I marked two defense zones for Nasdaq. The first defense is a bit weak compared to the second one with the support of mid-term Moving average line.
The taper has not started yet. So, I don't worried too much about the stock market.
What do you think? Give a like if you're with me.
Comment:
Price bounced back from the first defense zone.
plan your trade and trade your plan
